Match Group Inc. $MTCH Position Raised by Bank of Nova Scotia

Bank of Nova Scotia boosted its position in Match Group Inc. (NASDAQ:MTCH) by 12.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 222,703 shares of the technology company’s stock after purchasing an additional 25,490 shares during the period. Bank of Nova Scotia owned approximately 0.10% of Match Group worth $6,839,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in Match Group by 338.3% in the first quarter. Principal Financial Group Inc. now owns 1,143,744 shares of the technology company’s stock worth $35,124,000 after buying an additional 882,821 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Match Group by 22.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 625,638 shares of the technology company’s stock valued at $20,202,000 after buying an additional 115,852 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Match Group during the 4th quarter valued at $1,299,000. Deprince Race & Zollo Inc. lifted its position in shares of Match Group by 97.2% during the 1st quarter. Deprince Race & Zollo Inc. now owns 1,549,147 shares of the technology company’s stock valued at $47,574,000 after acquiring an additional 763,764 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Match Group by 55.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 180,949 shares of the technology company’s stock worth $5,931,000 after acquiring an additional 64,414 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Melissa Anne Brenner sold 5,141 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $35.94, for a total value of $184,767.54. Following the completion of the sale, the director directly owned 16,218 shares in the company, valued at approximately $582,874.92. This represents a 24.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.71% of the company’s stock.

Match Group Price Performance

Shares of MTCH stock opened at $38.80 on Tuesday. Match Group Inc. has a fifty-two week low of $28.81 and a fifty-two week high of $41.03. The stock’s 50-day moving average is $36.77 and its two-hundred day moving average is $33.97. The firm has a market cap of $9.05 billion, a P/E ratio of 14.81, a PEG ratio of 0.61 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.07. The business had revenue of $863.93 million during the quarter, compared to analyst estimates of $854.70 million. Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 EPS. As a group, research analysts expect that Match Group Inc. will post 3.11 EPS for the current year.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, July 7th. Match Group’s payout ratio is presently 30.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MTCH shares. Piper Sandler set a $51.00 price target on Match Group in a research note on Wednesday, May 6th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $43.00 price objective on shares of Match Group in a research note on Wednesday, May 6th. Citigroup raised their target price on shares of Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Royal Bank Of Canada lifted their target price on shares of Match Group from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley upped their price target on shares of Match Group from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $41.29.

About Match Group

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.